A loan helped purchase of inventory (peanuts, beans, cooking oil, seasonings, and others).

Frederico Armando's story

Frederico Armando was born in the Inhambane province in South Mozambique. He is in a common law marriage and has a 10 year old daughter who goes to school. He went to school until 5th grade but didn't finish due to his parents' lack of conditions. He lives in his own house and helps his parents who live in Inhambane by sending them 500 meticais worth of groceries every three months.

Frederico moved to the Namaacha District definitively when he started working mining precious stones in Pedra Lage. Due to the distance, he brought his family to live close to him and his work. He left his job and started a retail business because the mining equipment were precarious and that demanded a lot from him. He currently owns a store at his house where he sells staples (beans, peanuts, stock). He travels twice a week and takes 5,000 meticais with him and makes 2,000 meticais in profit, which he applies towards household expenses.

This is Frederico's second loan with Hluvuku and first with Kiva, in the amount of 8,000 meticais. He intends to buy products (peanuts, beans, cooking oil, seasonings and others) to increase his inventory. The previous loan was for 5,000 meticais went to his business.

He is very happy to have met the expectations of keeping his business. He will pay the loan back ahead of time and request another one to build a store and stop selling informally.

Translated from Portuguese by Kiva volunteer Betyna Almeida-Covarrubias.

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